‘Do no harm’: central bankers warn against rush to issue CBDC

Agustín Carstens, Jerome Powell and Jens Weidmann highlight risks of acting too fast

Agustín Carstens
Agustín Carstens

Senior officials from central banks and the Bank for International Settlements have warned against trying to move too fast to issue central bank digital currency (CBDC).

In remarks on March 22, BIS general manager Agustín Carstens, Federal Reserve chair Jerome Powell and Deutsche Bundesbank president Jens Weidmann all said central banks could get into trouble if they tried to move too quickly.

“We don’t need to rush this project,” said Powell, during the BIS Innovation Summit.

Carstens said

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